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are not just going to go over the fiscal cliff? we heard tim geithner on this program yesterday when steve asked him, look f you don't get what you want, do we go over the fiscal cliff? he said absolutely. >> he said he would do it! >> what happens when we wake up january nd, we go over the cliff, and the world doesn't end? >> that is so irresponsible. >> you have to be a long-term investor. long-term stocks have outperformed bonds. >> with all do respect, george, are you one of those come play september investors larry is referring to? >> i'd say we're opposite of that. we never take anything for granted, but we bet accordingac. bonds are trouble. a lot of people are going to lose a lot of money in bonds. you have to be prepared for that. interest rates are going to go up. dividends are going to continue to increase. the economy in this country is strong. it's going to get stronger. >> even at 44% dividend tax? >> it's not going to go that high. >> if we go over the fiscal cliff, it does go that high. it goes to 44%. >> no, no. don't think the worst. >> less than a month, it goes there. >
. dagen: thank you very much. we want to bring in steve moore to ask him quickly if there's enough time to get a deal done. he's senior economics writer at the "wall street journal," author of "who is the fairest of them all" and steve now that i introduced you, we're going to have to go to the new york stock exchange to hear wait till the sun shines which the traders sing every time this time of year. i'm going to pose the question to you. apologies if i need to interrupt you. is there enough time to get a deal done? >> yeah, there is. peter is exactly right that the modus operandi and capitol hill and the white house for the last 30 years is every time they are up against the deadline, they are like the high schoolkid who has to finish thesis paper. they wait till the last minute. so dagen, i'm making a prediction that on december 31st, you and i will probably be talking and i think they will be furiously negotiating and i think they probably wiil reach a deal. let me make one other point if i may, let's say it doesn't happen on december 31st, it's going to happen in january. it is no
than 13% for the week. it broke above its moving average. steve cullen, is he being punished for his success. illegal insider trading ran rampant inside his giant hedge fund. charlie gasparino has the latest. charlie: let me get you and amazing statistic. they returned 25.5% after expenses since 1996. warren buffett, berkshire hathaway, 8.64%. steve cohen does it with a lot of volatility. that is why i am telling you the feds are after him. here is what i know about this investigation. what sources are telling us. they believe you cannot get that type of consistent success, the notion that every year, basically, posting game, posting gains within not massive volatility. 50%. cheryl: you are very clever and breaking the law. charlie: they do not believe you can do that without insider trading. this is a mindset that pervades each one of these of the sec enforcement chief to the fbi people working on the cases to the justice department. they match up returns of these various guys. they say look at roche, look at how he did this and look at steve cohen. they believe it is just mathemati
, china, emerging market that we have been buying the last couple of months. liz: chin steve has a china plae don't want to miss. 30 billion in assets under management. he is working his money, trust us. the closing belllin 50 minutes. a fall off the fiscal cliff will derail the programs helping the hosing recover. for the homebuilders worried? toll brothers is the 800-pound gorilla, they would know. a fox business exclusive with dogeared leaflets which tell you if the recovery in housing is here to stay and it matters to a whole host of stocks and what the fiscal fall could do to his business. only here on fbn. and we n save you 10% on ground shipping over the ups store. look this isn't my first christmas. these deals all seem great at the time... but later... [ shirt ] merry christmas, everybody! not so much. ho ho ho! this isn't that kind of deal. [ male announcer ] break from the holiday stress. save on ground spping at fedex office. to the number 1 club in the world. the potential of manchester united unlocked. nyse euronext. unlockg the world's potential. liz: investors continue to
for the slide today perhaps a note from ubs analyst steve malonovich cutting the estimates and the price target. let's go to bert that coombs at the breaking news desk. >> thank you, scott. we have an update now on that shooting at the sandy hook elementary school in newtown, connecticut. nbc news is reporting as many as 27 people may be dead from that shooting which broke out this morning shortly after 9:30. that's when police were called. as many as 17 to 18 of the victims are children. 7 to 8 adults including the gunman who authorities described to nbc news as a 20-year-old connecticut man who was dressed in black and was carrying two handguns. connecticut state police are set to begin a briefing at this hour. danbury officials and hospital officials tell nbc news that at least three people have been transported to the hospital. again, to as many as 27 people killed. we will bring you more details as they become available. back to you. >> thank you very much, bertha. we'll keep checking back with you and monitoring the situation. obviously an incredibly tragic situation still unfolding in ne
. 7:07. let's go to -- let's go to steve. >>> this is a colder pattern. this may last a while. 7, 10, 15 day -- 15 days. there's a pattern with stronger systems coming in. christmas week could be kind of rainy and snowy as well. i almost had to choke there for a second. i'm okay now. coming down from cape mendocino there could be some snow. we need that because the snow level was way too high. but that's changing. there's not a lot of life with the system. heard from steve bridges up in the keys, 2 inches at lake level. it will be more of a powdery. you can see some scattered showers around, nothing widespread or anything. just kind of -- there was some towards orinda, san rafael, berkeley, emeryville, san mateo, redwood city, heading over towards the hayward side. also along highway 1 towards woodside, skyline, 84. san gregoireia and then towards the santa cruz mountains. there's been some around san jose. we'll keep an eye on that. 37 santa rosa. 44 napa. these continues will continue to drop. still nom so 50s -- still some 50s. this is a very fast-moving pattern, and it can be --
. they desperately want him to cave basically. in an effort to build the case against his old boss, steve cohen, and, instead, he's cooperating with cohen. is this a full-out cooperation? >> remember what we reported yesterday? they are paying for the attorney. we don't know if there's reasons for that or possibly an employment agreement that covers even employees fired two years ago for poor performance, and charged with something on the job, charged with insider trading, faces 20 years in jail for actions he did while he was at sac capital, but this is a nuance, that's more than a nuance. here's what's going on. in addition to paying for that attorney, there is an agreement between the capital and the attorney charles stillman. what's this mean? this is interesting. what it does is that it means that any time there's a document request from the feds, goes what, cohen knows about it. any time, you know, that the feds bring in martoma, want to talk about him again, cohen knows about it. his attorneys know that if matthew does, indeed, flip, he's got the playbook of the government against him. this i
, not looking at 6.5% threshold but the broader conditions, a big debate, steve liesman's nemesis talks a lot about people being beamed to mars in. your mind what is happening to the job market? are we creating jobs? is that why it's coming down, or is it because people -- the degree of discouraged workers? what's your sense of how quickly it's fallen because of new employment? >> so on the first question the chain cpi versus the fixed weight cpi is a technical issue. the change cpi is better for most economists because it allows for changes in the mix of goods and services that people actually consume more effectively. however, whether that's more appropriate for say social security indexing or not, i think that's ultimately a political decision. i suppose the rejoinder would be that neither the cpi nor the change cpi may be particularly a good measure for the cost of living of social security recipients, so those are the kinds of questions that congress is going to have to deal with. second part of your question was -- >> what actually is happening to the debate over the extent to which une
of steve jobs. we're going to take a very close look on what is next for america's favorite gadgetmaker. >>> speaking of gadgets, rivalry research in motion, offering training programs and promotions for its upcoming blackberry 10. it's targeted corporations. bold move or maybe a desperate one? >>> any move might be welcome down here. democrats want tax hikes on the rich. republicans want entitlement cuts. we've heard this before, haven't we? what do average americans want to see in a fiscal cliff solution. we've got the exclusive results of our exclusive cnbc all-america economic survey. >>> now to everybody's all-american, sue herera standing by at the nyse. >> you're sweet, ty. thanks. >>> we're a little bit on the downside. we really kind of retraced a little bit on the dow jones industrial average. previous to this we were solidly in the green in all three of the major market indices. the dow now down 14 1/2 points. nasdaq up eight. the s&p is down just a fraction. of course we are also watching apple on the back of yesterday's drop. the stock today is traded up $4.82. that's just
that much impact on the labor market. november jobs numbers coming in much stronger than expected. steve leisman who's had a very busy week here to talk about the numbers and put it in context for us. >> hi, sue. no substantive sandy in the jobs numbers. the lack of sandy effect has us scratching our heads, what they said. i just got off the phone with the guy who's the head of doing the numbers, labor numbers at the bls. he walked me through the rather extensibilive process they did fine out if there was any sandy effect, including sampling of businesses in a flood tide areas. >> it was very meticulous. >> i'm pretty convinced they did a good job figuring out if there was an effect and there is no effect which brings us to the numbers which you could believe on face value as much as you can. they'll revise this again. they only come forward with 60% to 70% of the sample. unemployment rate falling 7.7% because largely a drop in the labor force. average hourly earnings up 0.2%. despite positive headlines, xwoeld man sax says we interpret this report as one only slightly better than expect
first. guest host david walker of comeback america initiative and democratic strategist steve mcmahon both here to help us find solutions. >> then, what goldman's jim o'neill is so he seeing to help you prepare for your investments straight ahead. plus, adding opportunities door to door. >> have a good day. >> thank you. >>> domino's pizza ceo patrick doyle is here. the second hour of "squawk box" begins right now. >> good morning, everybody. welcome back to "squawk box" here on cnbc. i'm becky quick along with joe kernen. andrew is out this week. we've been watching futures this morning and they are indicated slightly higher. dow futures are up about 35 points above fair value, s&p futures and the fass dak futures are higher, as well. in your morning headlines today, the fiscal cliff dominating the sunday talk show circuit. treasury secretary tim geithner expressing on meet the press that republicans will accept the president's plan to raise income taxes. >> what we're trying to do is make it more likely we come together on a good agreement for the american people that extends t
to check in with steve paulson for an update on the very cold weather. a pretty sunrise. >> we do have very, very cold readings, crystal clear. it's cold this morning. freeze warning is out. it's so cold that lori myers in walnut creek sent us this picture of her cat, chili dog parked right in front of the heater. i love it. if your cat is there, i understand as well. temperatures when you get in the 20s, it's really cold. cold morning, turning cloudy tomorrow. it will be warmer. if you have to travel, thursday or monday, later or sooner, friday, saturday and sunday will be very dicey especially if you are heading north towards redding or even shasta. there's already -- it's already beginning to kick in around oregon and washington. it will be very dicey. freeze warning out for the north bay goes another 45, 47 minutes. frost advisory, the stronger the two advisories, a lot of won'ts in the -- a lot of 20s in the north. 28 napa. that's at the airport but it's closer to town. fairfield, 27. concord, livermore, 30. redwood city, 23. i've seen 29 palo alto. a lot of 30s around mill valley and
the heat of the sun in hawaii going to the heat in washington. steve forbes will be coming up later in the hour. shibani: we will tell you what drove the markets today with today's data down load. stocks gaining momentum in the last hour of trading crawling back from triple digit losses down about 150 points following reports that the house will return to washington on sunday, but that late rally wasn't enough to lift stocks into positive territory, with all three major indices closing lower for the fourth day in a row. materials, financials, amongst the day's top worst performing sectors i should say. new home sales surging to strongest level in more than two years. sales jumping 4.4% from october to an annual rate of 377,000, more good signs that that housing sector much needed to improve the rest of the economy is finally getting a boost. and the number of americans filing new applications for unemployment aid falling to its lowest level in nearly four and a half years. initial claims dropping 12,000 to a seasonally adjusted 350,000 the week prior was revised up by a thousand. da
-- highway 24 through la fayette, no delays. here's steve. >>> mostly clear, cold this morning. a little breeze for some. most temperatures are in the 30s. there are some upper 20s. we have a system coming in. it's splitting. i think the pattern -- this is a sign of things to come here for a while after what's been a very, very busy november and disease. i think things quiet down in january. part of this system will go north. part it is will south. 28 in santa rosa. 47 in livermore. this may be a very localized event. this is at the livermore airport. out by the lab, it's 33. they are getting a little northeast wind off the altamont pass. that's the only thing i can think of because not far away, it's 15 degrees chillier. upper 30s for some lowser to the -- to the bay. 6 -- for some lower to the bay. 6 below in tahoe. man. that's cold. see a little bit of shower activity trying to form off the north coast. i think this is falling apart. this low is heading towards southern california and i think therein lies the trend. the pattern looks quiet for the for the next 10, 15 days. you usually
26 days away from the fiscal cliff. steve liesman joins us now live from the treasury. he has an exclusive interview with one of the key negotiators at the white house, secretary of treasury timothy geithner. >> maria, thank you. i'm here with the secretary of treasury at a crucial time. thank you for joining us. >> thank you. >> speaker boehner has put forward a proposal which "usa today" says demonstrates more political courage the democrats have shown. the white house is saying today it's not even wor ty -- worthy of a response. what are we missing? >> i think we are making progress. they acknowledged they were prepapered to do $800 billion in higher taxes on part of the american economy. that's part of the balanced framework. that's definitely progress. what we need to see is have them acknowledge the rates go up. if they're willing to accept that and commit to that, then we think we could do something good for the economy. we can make the government use the taxpayers' money more efficiently, lock in some spending savings and do some long-term entitlement reforms to make s
will speak later to steve leisman about the fiscal cliff talks. we'll have a preview and discuss what traders want to hear. wooohooo....hahaahahaha! oh...there you go. wooohooo....hahaahahaha! i'm gonna stand up to her! no you're not. i know. you know ronny folks who save hundreds of dollars switching to geico sure are happy. how happy are they jimmy? happier than a witch in a broom factory. get happy. get geico. fifteen minutes could save you fifteen percent or more. how they'll live tomorrow. for more than 116 years, ameriprise financial has worked for their clients' futures. helping millions of americans retire on their terms. when they want. where they want. doing what they want. ameriprise. the strength of a leader in retirement planning. the heart of 10,000 advisors working with you one-to-one. together for your future. ♪ >>> goldman sachs earlier today cutting its outlook for gold and prices are closing right now. we have about a $2 loss in the gold market. sharon epperson is track being the action down at the nymex. sharon? >> gold prices are finishing the day basically flat here, s
to steve. >>> thank you, sal. a very good morning. a very cold morning. mostly clear. there will be some clouds along the coast. but colder and windy. very cold tonight into tomorrow. we're -- freeze warnings and frost advisories are posted. today, windy and colder, mostly cloudy, partly sunny. and then we'll focus our attention on increasing clouds. rain returns and even mountain snow. this looks pretty impressive. we went into the weekend today. 37 degrees in crescent city and raining. that's pretty cold there. you can see some of the rain/snow mix. a lot of the:00 moving in run -- a lot of the cloud cover moving in runs through the coast. cold, windy, i've seen about 25, 35 miles an hour. higher 40s, mid-50s but that's right by the water's edge. the rain won't arrive until thursday, friday. men so dino, sonoma fog skirting the coast. some of that may -- mendocino, sonoma fog is skirting the coast. a lot of 30s and 40s. 31 ukiah. 34 eureka. that's really cold up there. even 20s, they will have single digits in tahoe and truckee. look for cold conditions, breezy and then after that, a l
. what do you make of it. >> martoma just made the biggest trade of his life. he chose steve cohen. here is the deal that they have. steve cohen is paying the legal fees. that could be millions. he gets a copy of the government playbook. they will work and share information together. rather than flipping on steve cohen, he has decided to work with him and he is betting that the high-priced lawyers will beat the feds, as they usually do. adam: is this kind of like a conflict of interest. >> they say we have the same interests and beating the government and saying this was not insider-trading. the government also flipped this doctor who told martoma about the trials. charlie: this is all about martoma's trading. and passing that information to steve cohen. we know that he received that information. we do not know how martoma characterized the information. we do know that steve cohen received it and traded up on it as well. >> $270 million based on that information. it was not taped. it is what they are going to say occurred during that phone call. you will hear a different spin on that pho
of investing. carlisle's david rubenstein, steve shoresman blackstone, venture capital's marc andreesson, and jamie dimon. look at that -- >> in addition we have jerry webb. make us all -- the rest of us feel -- >> we have one -- >> you're an economist or something? you play on to have -- you can think about the 12-12-12 thing in the meantime because you're good at math. >> yeah. all that stuff. >> all right. >>> as we move closer to the edge of the fiscal cliff, every move is being magnified by the markets. president obama and house speaker john boehner spoke by phone on tuesday, exchanging new proposals. the president gave boehner a revised offer on monday, reducing his demand for new tax revenue from $1.6 trillion to $1.4 trillion over ten years. boehner responded with a plan that largely sticks to his original offer a week ago. reports say the white house has told republicans it would include an overhaul of corporate taxes in any budget deal. that hasn't been done before. in an exclusive interview with barbara walters of abc news, president obama says he still expects a deal before t
into the new year. today's "closing bell" exchange, gary webbush here with us and steve sax from pro shares advisors and steven gil garcetg and our own jeff cox. no encouraging words out of washington, here we go again, from either the fed or congress. >> right, and frankly that's very expected. there's going to be a -- some grandstanding about your political philosophies right up until the end, but the way i view this is we will not and cannot go over the fiscal cliff. >> you think the can will be kicked down the road. >> well, i think washington learned its lessons from the credit crisis. they are not going to have this go over the cliff, and i think it's going to be a recipe of a small part of cutting spending. a small part of raising taxes and a healthy doze of kicking the gan down the road. >> you would be so sure that these guys cannot do it when in fact here we are 18 days away. steve sax from your standpoint in, terms of etfs and in terms of indexing out there, how do you want to invest given all of these uncertainties as we approach year end? >> i'm in the camp i certainly hope we
statement to parliament today. will be out in westminster soon. steve is out to give us more detailed analysis of what to expect. let's just go back to the eurozone. as you say, thin advances here. are we capping -- it's up against the yen as well. there's obviously been a big yen story. >> yeah, i think the euro/yen has had perhaps more to do with eu euro/dollar than anything else. the euro crosses in general have been story rather than euro/dollar and euro/yen at the forefront. i think the euro/yen forecast is overplayed in what japan will ultimately deliver on. but mum is pretty good. i think you still play for a little yen weakness. i think we'll see a lot of people trying to buy yen back because i don't think we'll get delivery in all these preelection promises. >> do we all think we know what the chancellor is going to say? >> judging by the many pages being given to it in the newspapers, you feel like what else can he say? it's not going to be a day where you'll buy sterling aggressively because most of the news is going to be bad. we're going to have lower growth. potentially
in stocks. [ male announcer ] this is steve. he loves risk. but whether he's climbing everest, scuba diving the great barrier reef with sharks, or jumping into the market, he goes with people he trusts, which is why he trades with a company that doesn't nickel and dime him with hidden fees. so he can worry about other things, like what the market is doing and being ready, no matter what happens, which isn't rocket science. it's just common sense, from td ameritrade. >>> the opening bell on a tuesday morning. have a look at the s&p at the top of your screen. over at the nasdaq, northwest biotherapeutics on immunotherapy products. lots to watch today. i think we're getting comments slowly out of speaker boehner, which we'll get to in a moment. >> look, a little bit. still some activity before the official end of all activity whatsoever as we head into the christmas holiday. so arbitron up sharply. some people thought they were one company, but they are not. neilsen is a company that has large private equity owners at this time as well making that about $1.2 billion transaction. >> neilsen sha
and the south bay. 85 slows at 87. 101 slows in pockets from the capital expressway. >>> let's go to steve. >> thank you, sal. we have low clouds coming in. this is on parts of the coast and moving south. it looks like it's about half of the san mateo coast. there is a ribbon of fog from the sacramento valley and san joaquin valley. our system kos not -- does not have a lot of rain but it has a lot of cold air with it. it will be moving in tomorrow. today we have low clouds, again, combination of the two. low clouds. it will be a cooler day even with sun for a while. sometime this time of year, when you get a cold front moving in. those clouds start to move in. clouds tonight and then -- it's a light rain coming in late tonight, tomorrow morning. .10, maybe .50 at the most. the snow level is coming down. this will be good news for the is sierra, shasta/lassen, they will get the snow levels. not a lot of snow out of the first one but we'll get the levels down to 4500 feet. it will turn much colder. it's already cold to the north. a lot of 30s from santa rosa, napa down to gilroy, 38. liverm
on the deal, we're joined by virgin atlantic ceo steve ridgeway. steve, welcome to the program, thank you for coming on. >> hello, good afternoon. melissa: how will customers and shareholders know the difference or notice the difference now that we are seeing this portion of the company over to delta, what will feel different? >> i think we are a very strong airline. we started the heritage. delta likewise. delta has a huge presence in the u.s. but putting operations and schedules together, we have to get a deal approved which is obviously delta buying singapore's stake. and then we would create a joint venture across the north atlantic with antitrust abuse. we can coordinate our schedules and make sure we can bring together a bigger network for our customers and potential customers to fly on. it is very positive news with two good airlines coming together. really offering more choices to consumers. melissa: what do you make in choice? how dull the pain 360 million. quite a difference, what do you make of that? >> i think yes, it certainly is. it is the reality of the world we live in. th
. and our steve leesman is one of the lucky few who gets a question and he joins us now from washington. this is really something that not a lot of people expected, steve. >> i think that's right, tyler. and it is absolutely historic. fed for the first time putting economic targets around its funds rate projections and first of all, the other news was that it did end -- it said it would end to replace that so that brings the monthly purchases of long-term assets to $85 billion. i want to show you some math. the current level of the math call it 2.8 trillion. add a trillion to that, you will be at 3.8 trillion if we do go at this pace for a full year here. the precrisis level is $800 billion. i want it put it another way, tyler. increase the balance sheet from '09 to '12 by a trillion dollars. we will do that in one year. aggressive policy from the fed. unaggressive as tyler mentioned the idea of using economic targets for funds rate. we know they were talking about it. we know there was support. we didn't think the federal reserve had unanimity enough to do this. only jeff lacker from r
: and we're also going to be talking with the ceo and president of choice hotels, this is steve joyce. steve is going to be talking about their expansion right here in the u.s. including a three-star, upscale hotel. they had been focusing on the lower scale hotels. will that hurt their brand, or might it increase it? we'll be asking him. liz: first, what drove the markets in today's data download. stocks closing higher after struggling for direction early on with the dow crossing the flat line 25 times. all three major indices did post gains. technology had to be, right? was one of the best performers along with consumer discretionary. today's top performing sectors, health care and utilities, well, they did lag. the number of americans filing new applications for unemployment benefits falling for a third straight week as we remind you, thises the number you want to see fall. hurricane sandy's impact continues to slowly but surely subside. we had weekly jobless claims dropping by 25,000 last week to a seasonally-adjusted 370,000. the week's prior total was revised upward to 395,000 fr
conversation with our steve liesman. in corporate news, the apple coming off its worst day ofs losses this almost four years. u.s. equity futures, though, not too bad so far today. indicated up about 15 points. today is thursday, december 6th, penultimate day before the day of infamy. "squawk box" begins right now. >> welcome to "squawk box." i'm becky quick along with joe kernen. andrew ross sorkin is on vacation this week. onset with us is drew mattis. welcome. thanks for getting up early. >> i'm always up at this time. >> we'll be going through secretary geithner's comments, but first let's get you up to speed on other stories. joe was talking about apple. it has been a rough ten weeks for the most valuable u.s. company. shares tumbling more than 6% yesterday shedding $35 billion of market value. among the reasons cited by analysts, a forecast by an influential research firm suggesting that the iphone and ipad maker is continuing to give up ground it rival the android gadgets. there were also unconfirmed reports that at least one major stock clearing house was raising margin
connecting with consumers. >> a branding and advertisingme. steve welcome to the program. >> you were the among the firsto corporate america. what opportunity lie in that bridge. >> well i learned very earlyfroy that there was tremendous affinity amongst young adults and they would gather from different back grounds and graces and rewill i g religionsd music they would all come together. i felt it would be like a very good platform for fortune 500 companies to market their products. >> what greeting did you havewht gap? greeting? well it was tough in the beginning, tom. you are basically trying to get a company of a large organization who was used to marketing a certain way to deal with a shipment. shipment -- shift. a cultural shift. my biggest allies was when these ceo's had teenagers in their household. the teenagers would be list ening to music or partaking in something that the parents didn't ugs and the ugs ug underd an affinity for. it was a lot of corporations that were suffering because they could not get the next generation to adapt and partake in their product offering. >>
more than 13%, a very strong year for stocks. so let's bring in cnbc's senior economics reporter steve liesman. steve, we just said the market was way up today, they thought we would have a deal. now we're headed over the cliff. this can't be good news for our economy. >> reporter: it definitely would not be. and if you take all the things that kelly mentioned and add them up, that's about a 4% hit to gross domestic product. we put that into perspective. we're only going to grow about 2 or 3% this year. what does that mean? it probably means a return to recession, it means higher unemployment. it means more uncertainty as chuck todd was just talking about. if you imagine yourself a business person, thinking about making an investment in a factory, well, if i have to tune into "nbc nightly news" every night to figure out are we going to have a deal, that's not the kind of climate you want for investment and for jobs. >> and you were saying, this at a time when we were seeing some good signs in the economy for a change. >>. >> reporter: that's right. we're about to snatch defeat out of t
, northbound towards santa clara, looking pretty bad. give yourself extra time. let's check in with steve. >>> tara, thank you. there's definitely some breaks in the clouds. jive seen gusts to 25 miles per hour. i dent think this -- i've seen gusts to 25 miles per hour. i don't think this -- this breeze can helpster things up a little bit. still some low clouds around. i'm seeing breaks in the clouds for san jose. kind of a cooler pattern with the northwest wind. mostly sunny, though, today, no rain except we're done for a while. in fact, as the pattern changes here, even the higher clouds will stay to the north as everything starts to build offshore. independent self -- instead of 58, 59. everything staying north for now. the breeze should turn more northerly as we head towards friday night and saturday. so fog, sun, breezy. that west to northwest wind out there. not outrageous. but it's showing itself. we'll take that right into your weekend as well. that could be pockets of fog, thick fog. but for the weekend, it looks sun? dry and temperatures are on the mild side. >>> a couple in mor
nailing steve cohen? charlie: i do not think people are focused on the fiscal cliff. they will not be focused until you see the market sell off. the market believes there will be a deal. until the market trade-off -- adam: we have a guest who will be talking about that a little later on as we get closer to the end of the year. the investigation is still underway. charlie: when you see the market trade-off you watch people freak out. interesting thing about steve cohen, there is no more remarkable trader out there than this guy. say what you want to about him. if you look at his returns, i think he started in 92, one down here. he is up this year, so far, 10%. that is why the feds are after him. i have been speaking to a lot of people with the fpi. long-term returns, consistent and less volatility. what they do, generally, they look at returns, pretty much steady returns, not a lot of volatility. you look at steve collins return, one down year. you look at warren buffett. he destroys profits over that period of time. buffett has more volatility and returns. steve cohe
is it that steve cohen is pain the legal fees of a four-month trader. investigators are trying to get the slip against his old boss. here is charlie with the very latest. there is two schools hit. number one as companies often paid legal expenses. we should point out that the former hedge fund trader that is at the center of the latest allegation of insider-trading left about two years ago. he is two years out of it. steve cohen is likely to have some sort of cooperation agreement. they share documents. they share strategy. if and when he ever cooperates, and we do know that we want him to cooperate, he still says no. if he ever does cut that deal, he is facing 20 years in jail. if he wants to avoid 20 years, he will know exactly what to say to prepare his defense. the government would only give it to him if he could basically tell him about what steve cohen new about the insider trades that he was accused of. in the indictment, it says that bythat -- he traded those stocks based on insider information. he was not supposed to do that. then he told steve cohen something that caused steve cohen
. >> steve galio was there. >> yeah. it was a pretty interesting day. but i think his comments moved some people, too. >> did we broadcast ray dalion? >> i don't know if we broadcast him live. we should grab some clips and play them on squawk. >> dino, did you have something? >> i think you're on track in terms of the economy. the economy is weak. >> should i be wishing things just bottomed on their own so that we could start policing -- >> i mean, you know, what will be great would be a surge in productivity. you know, a surge of demands externally. >> i can't get here any earlier. we're here at 3:30 in the morning. >> you know, can this economy be more productive? >> go to bed at 8:00. >> can that happen? can we get a surge of external demand? and those things are unlikely or can't be predicted. >> andrew got in earlier today than ever. >> i did. i was coming from the concert last night. no, i wasn't. let's check out the situation in crude today. 86. we're used to that now, too. it's like, okay, 86 is fine. the ten-year, and this, when we used to go and see greenspan down in washington,
steve israel, congressman from new york. plus, we'll also be talking more about what's at stake in washington and how the fiscal cliff is likely to effect investment decisions. we have value investor leon cooperman, he's going to join us on set starting at 7:00 eastern time. then at 8:00 eastern, we have black op co-founder and ceo ralph schlosstein. and lynn hutchins will join us. we'll talk about what they see playing out and what they think is working when it comes to the markets now. >> the bill that the president says is in the house that he will sign if -- that's in the senate -- >> the senate. >> the senate that he will sign if the house passes it is what? >> that is $. >> -- that is 250? >> 250? >> he said 400. he said, i have the pen, let's keep tax rates where they are for everyone at 250 and below. so this one, that's c these guys are pretty clever because that would keep rates where they are for everyone at a million and below. no middle-class taxpayers up to a million dollars -- >> that's no matter what, isn't it, in either bill? >>yon r -- i think it would be the s
allows there. and for that, he was facing 15 years behind bars. steve harrigan live in our south florida newsroom with more now. steve, what do we know about hammar's impending release? >> harris, that release could happen any minute. we have been following the twitter account of his lawyer and talking to his parents. his mother, his father, his attorney and his congresswomen all say that john hammar will be released sometime today. right now he is still in that prison. they say they are filling out the paperwork to get him out. there might be one catch. that antique rifle, that 60-year-old gun that belonged to his great grandfather, john hammar says he wants that back before he leaves. harris? >> harris: we understand he, again, was there to be on a hunting trip. so that was a family hair loom that he had planned to lose in that manner. what kind of share is he in because we have heard all sorts of things about his captivity. >> harris, this drama really started back in august, so he has been in a very tough mexican prison where a lot of drug cartel members are held and he has been stuc
or create shareholder value? coming up. [ male announcer ] this is steve. he loves risk. but whether he's climbing everest, scuba diving the great barrier reef with sharks, or jumping into the marke he goes with people he trusts, which is why he trades with a company that doesn't nickel and dime him with hidden fees. so he can worry about other things, like what the market is doing and bei ready, no matterhat happens, which isn't rocket science. it's just common sense, from td ameritrade. progresso. in what world do potatoes, bacon and cheese add up to 100 calories? your world. ♪ [ whispers ] real bacon... creamy cheese..... 100 calories... [ chef ] ma'am [ male announcer ] progresso. you gotta taste this soup. you know how painful heartburn can be. for fast, long lasting relief, e doctor recommended gaviscon®. only gaviscon® forms a prottive barrier that helps block stomach acid from splashing up- relieving the pain quickly. try fast, long lasting gaviscon®. ♪ [ male announcer ] they are a glowing example of what it means to be the best. and at this special time of year, they sh
'm becky quick along with joe kernen and steve liesman. the november jobs report is now just about 150 minutes away. count do countdown is on. the economy probably added about 80,000 jobs last month. reuters consensus is a little higher at 93,000. the unemployment rate expected to hold steady at 7.9% and economists say the slow down in nonfarm payrolls will reflect the effect of sandy. joining us this hour is bank of america merrill lynch global research senior research economist michelle mire and we'll talk through everything that's been happening through jobs and what to expect. but first, there is a developing story. an earthquake off the northeast coast of japan triggered a tsunami warning. the warning has been lifted, but it was a 7.3 quake. so far no reports of any injuries or damage. it was for the same area devastated by an earthquake and tsunami back in march of last year. we will continue to bring you any developments. in the meantime, steve has some of the morning's top other stories. >> let's start with the markets. asian stocks rallying to 2012 highs overnight. the nikkei
. >> tom: steve, which brand benefits the most from odd pairing, discount target to the high-end luxury neiman marcus? >> i think it is sort of a complicated analysis. i think for target, it is all win. from target's perspective, sales will be quite good. you look at the average target customer -- neiman marcus brands are often inaccessible to these folks. the chance to go to target and get some of the higher-end products i think will be very attractive and draw a lot of excitement to the store, and draw a heck of a lot of traffic for them. i think also in terms of branding, target is going to make out very well here. neiman marcus, the association consumers have are up-scale, prestigious, and so forth. for target, one of their most important marketing objectives is to be perceived as a little above walmart and k-mart and so on. by target having this partnership, they can leverage the associations that neiman marcus has developed. >> tom: does neiman marcus then lose something here in this relationship? >> neiman marcus, i think their core goal is sales. they have 40 stores, and target
to tim cook about continuing the legacy of steve jobs. plus chinese insurer picc put some spark back into the dismal, the big potential in the insurance. plenty more to come. having you ship my gifts couldn't be easier. well, having a ton of locations doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that is a customer. oh...sorry about that. [ male announcer ] break from the holiday stress. fedex office. >>> we continue to monitor reaction to the earthquake and tsunami wave in japan right now. miyagi northern prefecture region. and we got a clarification from one of the plants. tokyo whether he can power saying workers instead of evacuating completely, the plant saying they have now reached a position inside the plant, they didn't evacuate. so they just made sure the workers have gone into a safe position. we'll keep monitoring events and any reports we get out. meanwhile, with germany's dax closing near five year highs, is it time for a rerating of european equities? highest close since january 2008. up 28% for the year, giles. and here we are with the bundesban
is just amazing. steve liesman's exclusive with lacquer. one more look at futures this morning. we'll cover what 10% on squawk earlier today. and a lot more when "squawk on the street" comes right back. [ male announcer ] at scottrade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when you need it. it's another reason more investors are saying... [ all ] i'm with scottrade. it's another reason more investors are saying... who helped make slea difference last yearose for thousands of california foster kids. thank you for helping foster kids. thank you for the school supplies. thank you for the new shoes. thank you, secret santa. and thank you for donating money. your generosity proves that while not everyone can be a foster parent, anyone can help a foster child. - thank you. - thank you. gracia
. >> steve sedgwick has the latest and joins us now. hi, steve. >> i like that shuffle, steve. that was good. >> reporter: i've got a treat for you. guys, kelly, ross, i've got a treat. the nigerian oil minister has asked me kindly to join -- you are absolutely freezing. thank you very much for joining us. i know you've got a very important meeting coming up. how do you feel about world oil supplies at the moment? >> well, i think right now we're holding fairly stable. we're of course concerned that there will be a certain level of overproduction over the next 18 months or so if the production continues. >> reporter: saudi arabia need to take oil off the table cd iraq? >> i think those are issues we'll discuss today. >> reporter: what is the most contentious issue? we have been saying the most contentious issue could surround saudi arabia and iran. some estimates of over one million barrels a day. >> again, i would not preempt this meeting and outcome by giving statistics at this point. i think it's critical that we go in and have discussions amongst ourselves and come to the sort of prudent
. speaking of which, i'm glad you brought that up. our steve liesman interviewed the treasury secretary a couple of days ago and had a question for him. i wonder if you would listen to this piece of tape and get a reaction on the other side. >> i want to understand the administration's position when it comes to raising taxes on the wealthy. those making more than $250,000. if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> absolutely. again, there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest americans. it's only 2%. >> dr. krueger, as the man who is maybe more than anyone the steward of the economy itself, are you okay with that? >> absolutely. the president made clear during the election that he wants a balanced approach, that we can't afford the tax cuts for the most fortunate among us. that the way to provide opportunity and build the middle class in this country is to get on a fiscally sustainable path and to ask wealthiest to pay a little bit more. president couldn't have bee
're going to hear tomorrow, in the next hour, when steve liesman will join us with results of our fed survey. >>> an oh beck minister, important events. opec ministers are in vienna. >> why vienna, by the way? >> i don't know why they originally set it there, but it seems like as good a place as any. have you been? >> i have not been. >> i don't think i've ever been to vienna. i always wondered about that. >> i mean, it's better than meeting in, i don't know, skokie, right? they're expected to retain its 28 million barrel a day output target. but the real drama is likely to be about leadership, the world's leading oil exporters are expected to argue about who should be opec's next secretary general and we have candidates from iran, iraq and saudi ara a arabia. they're all competing to replace the current leader, as you can see there. abdallah salem el badri, he's 72 years old and he's been there for years. i don't know where i've been for five years, but did you know -- >> i apologize in advance. i didn't. >> you could have said you did and we've been best friends, in fact. >> he's complete
:00 eastern, aman whose name is synonymous with the flat tax. steve forbes will be our taxmaker of the hour. it's a new day. if you're a man with low testosterone, you should know that axiron is here. the only underarm treatment for low t. that's right, the one you apply to the underarm. axiron is not for use in women or anyone younger than 18. axiron can transfer to others through direct contact. women, especially those who are or who may become pregnant, and children should avoid contact where axiron is applied as unexpected signs of puberty in children or changes in body hair or increased acne in women may occur. report these signs and symptoms to your doctor if they occur. tell your doctor about all medical conditions and medications. do not use if you have prostate or breast cancer. serious side effects could include increased risk of prostate cancer; worsening prostate symptoms; decreased sperm count; ankle, feet, or body swelling; enlarged or painful breasts; problems breathing while sleeping; and blood clots in the legs. common side effects include skin redness or irritation where a
. carter worth, fundamental, steve cortez, always nice to see you. carter, check it out. tell me about the charts and the technicals. what do the charts tell you, gm versus ford. >> the first chart is a comparative chart, just that, gm versus ford. very clear optically, 75% correlation. the truth is, we like them both. they're both bottoming out, if you will. they're both heretofore weak stocks improving. each has acted very well while the market was selling off in the september-october period. gm, well-defined downtrend. the stock moves above the down trend, breaks above that, if you will, and the pattern is the same for ford. same downtrend over the past year and a half. same move above the downtrend. again, each moving up in september and october. when the market was getting clobbered. very important. >> carter -- >> you like the technicals. steve, jump in. what about the fundamentals. >> i actually shorted gm this morning. both have had a great few weeks, couple of months but it's important to bring perspective. if you look at a long-term chart of ford, you see this stock is tradin
. steve liesman up next with surprising new results from the exclusive cnbc survey. >>> and then as the lawsuits fly over hewlett-packard's autonomy mess, i'll talk with the ceo of deloitte and their role in looking over the books. ally bank. why they have a raise your rate cd. tonight our guest, thomas sargent. nobel laureate in economics, and one of the most cited economists in the world. professor sargent, can you tell me what cd rates will be in two years? no. if he can't, no one can. that's why ally has a raise your rate cd. ally bank. your money needs an ally. tdd#: 1-800-345-2550 this morning, i'm going to trade in hong kong. tdd#: 1-800-345-2550 after that, it's on to germany. tdd#: 1-800-345-2550 then tonight, i'm trading 9500 miles away in japan. tdd#: 1-800-345-2550 with the new global account from schwab, tdd#: 1-800-345-2550 i hunt down opportunities around the world tdd#: 1-800-345-2550 as if i'm right there. tdd#: 1-800-345-2550 and i'm in total control because i can trade tdd#: 1-800-345-2550 directly online in 12 markets in their local currencies. t
ross and on the fundamental side it's steve cortes with veracruz. rich, look at the charts. which of these do you prefer, or do you prefer them right now. >> well, bill, the case of the biggest loser here, but overwhelmingly i prefer groupon. stock became public a year ago in facebook style. lost 90% of its value in just 12 months. had a nice bounce here. we've taken out the downtrend from the february high and taken out 509-day moving average. you see that key resistance, that key level at 550. i think we're going to take that out. we have a v-shaped reversal. a lot of momentum. we see projected upside to the 200 day, 8.40, 8.50, a very nice upside. we'd be a big buyer of groupon. j.c. penney, stay away from j.c. penney. the stock has been disappointing investors for over five years. down 87% from the 2007 high around $90. gotten a little bit of a bounce. you want to fade that bounce. don't trade that bounce. >> okay. >> you can sell your shares to steve because you want to buy them, right? >> i'm on the exact other side of this. bill, would i say trying to choose between these t
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